Analysis
NAICS 54161 is the 2022 NAICS industry for management consulting services, part of 5416 (Management, Scientific, and Technical Consulting Services). Census lists 47 example activities under it in the official index.
Between 2018 and 2023 the number of establishments grew 29% and employment rose 32%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
County Business Patterns counts 188,206 US establishments in this code in 2023, employing 1,467,031 people at an average annual payroll of $107,952 per employee (88th percentile of national industries). 83% of the establishments have fewer than five employees, which marks it as a small-business industry.
By establishments it ranks 1st of the 3 codes at this level within Management, Scientific, and Technical Consulting Services, with 83.3% of them.
Census lists 12 related activities that belong elsewhere, most often in 56111, 56131, 55111 and 92. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Across its national industries Census lists 47 index entries; typical ones are administrative management consulting services, actuarial consulting services (except insurance actuarial…, customer service management consulting services and customs consulting services.
Official definition
This industry comprises establishments primarily engaged in providing advice and assistance to businesses and other organizations on management issues, such as strategic and organizational planning; financial planning and budgeting; marketing objectives and policies; human resource policies, practices, and planning; production scheduling; and control planning.
Illustrative Examples:
Actuarial, benefit, and compensation consulting services Human resources consulting services Marketing consulting services Administrative and general management consulting services Process, physical distribution, and logistics consulting services
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Providing a range of day-to-day office administrative services, such as financial planning, billing and recordkeeping, personnel, and physical distribution and logistics | 56111 Office Administrative Services |
| Providing executive search, recruitment, and placement services | 56131 Employment Placement Agencies and Executive Search Services |
| Administering, overseeing, and managing other establishments of the company or enterprise (except government establishments) | 55111 Management of Companies and Enterprises |
| Government establishments primarily engaged in administering, overseeing, and managing governmental programs | 92 Public Administration |
| Professional and management development training | 61143 Professional and Management Development Training |
| Listing employment vacancies and in recruiting, referring, and placing applicants in employment | 56131 Employment Placement Agencies and Executive Search Services |
| Advertising and public relations | 5418 Advertising, Public Relations, and Related Services |
| Developing and conducting marketing research or public opinion polling | 54191 Marketing Research and Public Opinion Polling |
| Planning and designing industrial processes and systems | 54133 Engineering Services |
| Planning and designing computer systems | 54151 Computer Systems Design and Related Services |
| Providing financial investment advice services | 52394 Portfolio Management and Investment Advice |
| Arranging transportation of freight between shippers and carriers | 48851 Freight Transportation Arrangement |
Index entries (47)
- Administrative management consulting services
- Actuarial consulting services (except insurance actuarial services)
- Customer service management consulting services
- Customs consulting services
- Telecommunications management consulting services